Siddharth Gattani and Shorya Gattani made an offer to acquire 52% stake in Vandana Knitwear Limited (BSE:532090) for INR 22.3 million on November 3, 2020. The buyers will acquire 55.63 million shares of Vandana Knitwear Limited at INR 0.4 per share in cash. In a related transaction, Siddharth Gattani and Shorya Gattani signed an agreement to acquire 9.37% stake in Vandana Knitwear Limited from the promoters for INR 3.5 million. The Acquirers reserves the right to nominate someone representing them to be a Director on the Board of the Vandana Knitwear during the Offer Period. The offer is not subject to any minimum level of acceptance. This Offer is not subject to the receipt of any statutory approvals. IfEarlier, the offer will open on December 29, 2020 and close on January 11, 2021. The offer will now open on January 29, 2021 and close on February 11, 2021. Manish Gaur of Mark Corporate Advisors Private Limited acted as manager to the offer for Siddharth Gattani and Shorya Gattani. Kunjal Anjaria of Sparkle Securities Solutions acted as broker to buyers in the transaction. Arvind Tandel of Bigshare Services Private Limited acted as Registrar to the buyers in the transaction.